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Please show the journal entry for each with Cash..... common stock additional paid-in capital I need to see how you got the numbers please and
Please show the journal entry for each with
Cash.....
common stock
additional paid-in capital
I need to see how you got the numbers please and thank you!!
Show what was authorized and what was issued.
Early in 2015, Robbinsville Press was organized with authorization to issue 100,000 shares of $100 par value preferred stock and 500,000 shares of $1 par value common stock. Ten thousand shares of the preferred stock were issued at par, and 170,000 shares of common stock were sold for $15 per share. The preferred stock pays an 8 percent cumulative dividend. During the first four years of operations (2015 through 2018), the corporation earned a total of $1,385,000 and paid dividends of 75 cents per share in each year on its outstanding common stock Instructions a. Prepare the stockholders' equity section of the balance sheet at December 31, 2018. Include a supporting schedule showing your computation of the amount of retained earnings reported (Hint: Income increases retained earnings, whereas dividends decrease retained earnings.) b. Are there any dividends in arrears on the company's preferred stock at December 31, 2018? Explain your answer. Early in 2015, Robbinsville Press was organized with authorization to issue 100,000 shares of $100 par value preferred stock and 500,000 shares of $1 par value common stock. Ten thousand shares of the preferred stock were issued at par, and 170,000 shares of common stock were sold for $15 per share. The preferred stock pays an 8 percent cumulative dividend. During the first four years of operations (2015 through 2018), the corporation earned a total of $1,385,000 and paid dividends of 75 cents per share in each year on its outstanding common stock Instructions a. Prepare the stockholders' equity section of the balance sheet at December 31, 2018. Include a supporting schedule showing your computation of the amount of retained earnings reported (Hint: Income increases retained earnings, whereas dividends decrease retained earnings.) b. Are there any dividends in arrears on the company's preferred stock at December 31, 2018? Explain your
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